The new tool is designed to alleviate stakeholder pain points

FinSpace reveals details of Propflex tool

After launching its Propflex appraisal tool in April this year, FinSpace Group has released more information on how it alleviates stakeholder pain points.

The platform is designed to enable developers to appraise projects, get quotes, manage their applications, and review status updates while helping to build detailed project appraisals, with cashflow projections for new builds and heavy refurbishment under one suite.

The tool will be offered on a free subscription basis to its customers.

FinSpace also aims to minimise the risk throughout the application process as well as plug in exclusive products and funding lines, while the quoting engine will power illustrations covering leading lenders.

Jaffer Abbas, co-founder and chief technology officer at FinSpace, said: “The tool will enable auction listings on our portal and we aim to host all auction listings in one place, where buyers can search based on location, type of property, and guide prices across all major UK auction houses.

“Buyers will be able to get AIPs on selected properties by specifying their target guide prices [and] our advisers will be able to package auction finance deals online and speed up the process with AIPs and pre-approval.”

Manoj Chitroda, commercial director at FinSpace, added: “This will enable a streamlined underwriting process through online credit checks, ID verification, AVMs, and home-track valuations, resulting in quicker legal processes and more.

“For lenders, this will allow uniform packaging, higher and regular distribution levels, guaranteed rate of returns, and higher completion rates with integrated tools.”

FinSpace is in the process of further developing its Propflex platform to also include features such as research as well as referral management, and aims to launch to the wider market in the upcoming weeks.

The roadmap includes a portfolio management tool, which will enable customers to manage their property portfolios in one place and landlords will be able to appraise their entire portfolios through its quoting engine and get indicative terms.


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